Indian billionaire and Chairman of Adani Group, Gautam Adani, addresses the gathering during the 51st Gem and Jewellery Awards in Jaipur, Rajasthan, India, on November 30, 2024.
Vishal Bhatnagar | Nurphoto | Getty Images
The U.S. Department of Treasury on Monday said it had agreed to a $275 million settlement with India’s Adani Enterprises Ltd over the company’s potential civil liability for 32 apparent violations of U.S. sanctions on Iran.
Adani Enterprises had bought shipments of liquefied petroleum gas from a Dubai-based trader purporting to supply Omani and Iraqi gas that had actually originated from Iran, Treasury’s Office of Foreign Assets Control said in a statement.
The U.S. Securities and Exchange Commission separately settled a civil lawsuit against Indian billionaire Gautam Adani over an alleged scheme to bribe Indian government officials, court records showed last week, although the move is subject to court approval.
The Justice Department is also close to dropping related criminal fraud charges against Adani, who has promised to invest $10 billion in the U.S. economy, according to two sources familiar with the matter.
